Registration number:
RM Cottingham Limited
for the Year Ended 5 April 2025
RM Cottingham Limited
(Registration number: 00544959)
Balance Sheet as at 5 April 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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For the financial year ending 5 April 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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RM Cottingham Limited
Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025
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General information |
The Company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements cover the individual entity, have been prepared in sterling and are rounded to the nearest pound.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
Government grants
Basic payment scheme is received in respect of calendar years. Receipt is contingent upon meeting certain cross compliance rules throughout the scheme year. Once the criteria has been met the income is recognised.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
RM Cottingham Limited
Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous accounting periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Freehold land |
No depreciation |
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Capital improvements and farm buildings |
Straight line basis 10% |
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Corn driers |
Reducing balance basis 10% |
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Implements and equipment |
Reducing balance basis 15% |
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Tractors, combines and vehicles |
Reducing balance basis 15% and 25% |
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
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Asset class |
Amortisation method and rate |
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Entitlements |
5 years straight line |
Stocks
Raw materials and consumables are stated at the lower of cost or net realisable value. Tenantright is calculated on actual costs incurred. Produce on hand is valued at 75% of selling price. The basis of valuation is consistent with previous years.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
RM Cottingham Limited
Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
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Staff numbers |
The average number of persons employed by the Company (including Directors) during the year, was
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Intangible assets |
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Entitlements |
Total |
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Cost or valuation |
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At 6 April 2024 |
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At 5 April 2025 |
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Amortisation |
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At 6 April 2024 |
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Amortisation charge |
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At 5 April 2025 |
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Carrying amount |
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At 5 April 2025 |
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At 5 April 2024 |
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RM Cottingham Limited
Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025
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Tangible assets |
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Freehold land and buildings |
Capital improvements and farm buildings |
Implements and equipment |
Tractors, combines and vehicles |
Corn driers |
Total |
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Cost or valuation |
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At 6 April 2024 |
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Additions |
- |
- |
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- |
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Disposals |
- |
- |
- |
( |
- |
( |
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At 5 April 2025 |
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Depreciation |
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At 6 April 2024 |
- |
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Charge for the year |
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- |
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Eliminated on disposal |
- |
- |
- |
( |
- |
( |
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At 5 April 2025 |
- |
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Carrying amount |
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At 5 April 2025 |
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- |
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At 5 April 2024 |
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- |
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RM Cottingham Limited
Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025
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Debtors |
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Current |
2025 |
2024 |
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Trade debtors |
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Prepayments |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
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Note |
2025 |
2024 |
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Due within one year |
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Bank loans, overdrafts and borrowings |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Accruals and deferred income |
28,126 |
31,595 |
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Creditors include bank loans and overdrafts which are secured on land owned by the company of £225,383 (2024 - £225,383) and hire purchase liabilities secured on the individual assets of £184,228 (2024 - £122,775).
Creditors: amounts falling due after more than one year
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Note |
2025 |
2024 |
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Due after one year |
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Loans and borrowings |
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2025 |
2024 |
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Due after more than five years |
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After more than five years by instalments |
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- |
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Creditors include bank loans and overdrafts which are secured on land owned by the company of £3,596,260 (2024 - £3,739,173) and hire purchase liabilities secured on the individual assets of £81,667 (2024 - £102,561).
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Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The annual amount of financial commitments not included in the balance sheet is £
RM Cottingham Limited
Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025
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Related party transactions |
Key management personnel
At the balance sheet date the amount due to the directors was £174,765 (2024 - £170,865). No interest has been charged in respect of this balance.
At the balance sheet date the amount due from the directors was £2,693 (2024 - £25,912l). Interest has been charged in respect of this balance.
Directors' remuneration
The Directors' remuneration for the year was as follows:
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2025 |
2024 |
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Remuneration |
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Loans and borrowings |
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2025 |
2024 |
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Non-current loans and borrowings |
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Bank borrowings |
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Hire purchase liabilities |
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2025 |
2024 |
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Current loans and borrowings |
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Bank borrowings |
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Bank overdrafts |
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- |
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Hire purchase liabilities |
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